7 good reasons to invest in Haiti
1. Geostrategic Position
Haiti is 72 hours by boat from the world's biggest market, the United States of America, with 300 million potential consumers and a GDP per capita of USD 47,400.
2. Duty Free Agreements / Access to Markets
- Haiti has access to the U.S. $75 billion dollars apparel market. With the signing of the Hemispheric Opportunity for Partnership Encouragement Act of 2006 (HOPE), investors have unhindered access to the largest consumer of apparel. Haiti is positioned for growth due to its proximity and a new business climate.
- Haiti has access to European markets through Everything but Arms (EBA). The EBA has been signed and is in the process of being ratified by Haitian Parliament.
- Haiti has access to Caribbean markets through the creation of the Caricom common market of which Haiti is a permanent member since July 2007
3. Competitive Workforce
Haiti has some of the most competitive labor costs in the region and benefits from a labor force of 4.3 million, 50% of which is below the age of 24.
4. CFI Support
Haiti offers some of the most attractive incentives in the world with up to 15 years of tax relief and import duty exemptions for inputs.
The CFI is there to support investors from their first stages of interest through to post-establishment aftercare services, aiming to make doing business in Haiti as easy as possible.
5. Consolidated Industries
Tourism arrivals have been increasing since 2010. In 2013 around 644,000 cruise ship passengers and over 419,000 other tourists visited Haiti, amounting to more than 1 million tourists during that year. Figures through September 2014 show a 21% increase in tourists in 2014 as compared to the same period in 2013.
Visitors can now choose from a wide range of renown international hotel chains as well as high quality local boutique options.
Haiti’s apparel industry has grown dramatically in recent years with employment in the sector increasing from 21,000 in 2008 to 36,000 in 2014. Exports have followed this trend increasing by over 80% in the same period, totaling USD 1.09 billion in 2014.
Haiti’s modern industrial park and free zone facilities are increasing dramatically to support the growing investor demand. These facilities aim to make investors lives as easy as possible when they establish themselves in the country, allowing them to take advantage of Haiti’s many production opportunities.
Haiti is the last bastion of unexplored territory in the Caribbean. From vast stretches of coastline, stunning mangroves, extended cave networks and mountainous terrain, Haiti offers investors countless possibilities.
7. Security of International Treaties and Conventions
A member of WTO and signatory of major treaties, Haiti has ratified the International Convention for Settlement of Investment Disputes (ICSID). ICSID provides for settlement of disputes between investors and host States by conciliation, arbitration or fact-finding. Haiti has also ratified the Multilateral Investment Guarantee Agency (MIGA-World Bank Group). MIGA’s guarantees protect investments against non-commercial risks.